i want a paragraph on was the decidion of gst successful
Answers
Answered by
2
Like demonetisation, whose evidence of success or failure must go beyond the anecdotal, the real impact of GST (goods and services tax) will not be judged by the policy archer’s target practice but by actual data and empirical observations. These will be visible in about six to eight quarters to quantify. But even before the GST rollout, we have one success metric: politics. In the field of federalism, the Srinagar Consensus saw the combined efforts by the Centre and the States through the institution of the GST Council usher in a transformative tax system, and take a gamble on economic growth. This is a landmark in India’s democratic policymaking.
While we wait to strengthen and consolidate its successes, and take course correction and modifications on its failures, we need to be clear about how we go about evaluating this approach to taxation. We need to move away from the boom-and-gloom scenarios and predictions. Optimists see the GST as a silver bullet that can cure all of India’s economic problems, from poverty to growth, inflation to doing business. Pessimists say too many objectives are being loaded on the GST, and there will be no accountability in the system. The truth lies somewhere in the middle. How should we think about evaluating the rollout of GST? There are five windows through which we can view this process and come to dependable conclusions --- consumption, production, inflationary pressures, compliances, and tax buoyancy.
While we wait to strengthen and consolidate its successes, and take course correction and modifications on its failures, we need to be clear about how we go about evaluating this approach to taxation. We need to move away from the boom-and-gloom scenarios and predictions. Optimists see the GST as a silver bullet that can cure all of India’s economic problems, from poverty to growth, inflation to doing business. Pessimists say too many objectives are being loaded on the GST, and there will be no accountability in the system. The truth lies somewhere in the middle. How should we think about evaluating the rollout of GST? There are five windows through which we can view this process and come to dependable conclusions --- consumption, production, inflationary pressures, compliances, and tax buoyancy.
pratham692:
thank you so much
ur welcome....
yep.....☺☺☺
Answered by
0
Three weeks after its launch, the goods and services tax (GST) — with all its "goodness" and "simplicity" — is poised to deliver an interesting paradox to demonetisation. With its loud schadenfreude plot, thenote ban crafted a convincing political success for the ruling dispensation in spite of its colossal failure on most economic and monetary parametres.GST is likely to unfold a vice-versa. It is all set to deliver fiscal success and improved GDP figures on paper, if not felt on the ground. However, it may turn out to be a political dampener with its direct negative impact on jobs and cost of consumption.
Similar questions